XPeng (NYSE:XPEV) Shares Gap Up to $12.72

Shares of XPeng Inc. (NYSE:XPEV) gapped up before the market opened on Monday . The stock had previously closed at $12.72, but opened at $13.66. XPeng shares last traded at $13.31, with a volume of 11,187,930 shares changing hands.

Analyst Ratings Changes

A number of brokerages have commented on XPEV. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Bank of America decreased their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Finally, Citigroup dropped their target price on shares of XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $9.42.

XPeng Trading Down 4.6 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31. The stock’s 50 day moving average is $8.23 and its 200-day moving average is $8.13. The company has a market capitalization of $11.44 billion, a P/E ratio of -8.59 and a beta of 2.75.

XPeng (NYSE:XPEV) last announced its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. The firm had revenue of $1.12 billion during the quarter. As a group, equities research analysts anticipate that XPeng Inc. will post -0.95 earnings per share for the current year.

Institutional Trading of XPeng

A number of hedge funds and other institutional investors have recently modified their holdings of XPEV. Primecap Management Co. CA lifted its position in XPeng by 5.6% during the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after acquiring an additional 872,160 shares during the period. Bank of Montreal Can increased its position in XPeng by 212.1% during the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after buying an additional 2,724,549 shares in the last quarter. Robeco Schweiz AG raised its stake in XPeng by 3.8% during the fourth quarter. Robeco Schweiz AG now owns 2,336,330 shares of the company’s stock valued at $34,087,000 after buying an additional 85,000 shares during the last quarter. Electron Capital Partners LLC bought a new stake in XPeng in the fourth quarter worth $26,047,000. Finally, Russell Investments Group Ltd. grew its stake in shares of XPeng by 73.7% in the first quarter. Russell Investments Group Ltd. now owns 1,415,568 shares of the company’s stock worth $10,872,000 after acquiring an additional 600,437 shares during the last quarter. 23.05% of the stock is owned by hedge funds and other institutional investors.

About XPeng

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EVs) in the People's Republic of China. It offers SUVs under the G3, G3i, and G9 names; four-door sports sedans under the P7 and P7i names; and family sedans under the P5 name. The company also provides sales contracts, super charging, maintenance, technical support, auto financing, insurance, technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.